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Four Tips For Starting Your Side Hustle In 2020

Forbes Coaches Council

Award-winning business coach, podcaster and speaker, helping high-performing entrepreneurs and business owners get results they want. 

If you’ve thought about starting a side hustle in the past, 2020 may be the catalyst you need to finally take the plunge. 

When you have a stable job, a side hustle can allow you to pursue a new business idea and develop professional skills, while helping you cover living expenses, generate disposable income or save for the future. When you’re worried about the stability of your job, a side hustle is even more important; it gives you more control over your work and finances and provides a safety net during difficult times. It may even be a launch pad into full-time entrepreneurship. 

Why Start A Side Hustle Now

Before the pandemic, side hustles were already becoming more popular. According to a 2018 Henley Business School study, 25% of adults in the UK reported having at least one business project outside their full-time job, with that number expected to increase to 50% by 2030. In a 2019 Bankrate survey, 45% of working Americans said they have a side hustle. 

I predict that these numbers will continue to grow along with our economic uncertainty. Current unemployment rates are high: 4.5% in the UK in August, the highest level in three years, and 7.9% in the U.S. in September, down from a historic high of 14.7% in April. Even for people who are still employed, job insecurity and financial worries are associated with increased symptoms of anxiety and depression. 

The reality is that we don’t know how long the pandemic and the recession will last, or what recovery will look like 12 or 18 months from now. You can cross your fingers, wait for the markets to recover and hope for the best. Or you can be proactive and launch a profitable and rewarding venture of your own. 

Tips For Getting Started

1. Start from where you are.

I know a talented marketer who was recently laid off. While she applies to marketing jobs that have hundreds of other applicants, she is working a low-wage retail job she dislikes. I told her to think about starting a freelance marketing business. Instead of just waiting for a good job in her field to come along, she could use her considerable skills to grow her own client base and eventually quit her retail job. This is the approach that everyone I employ has taken. I don’t have any full-time employees, but I work with a team of experts in their fields — copywriting, design, marketing, etc. — who all work for themselves, and who all got started with side hustles. 

Take stock of your personal situation. How much time do you have available each week? What are your most valuable skill sets? What could you offer potential customers? What would you need to do or learn to work for yourself? Identify the main gaps in your knowledge and experience; for example: setting up a company or developing sales strategies. 

2. Talk to people who have done it.

People are often intimidated by creating a side hustle — not because it’s difficult but because it’s unfamiliar. Get past this mental barrier by learning from people who have already done it. 

Reach out to friends, acquaintances and former colleagues who have started their own businesses, and ask for advice or referrals. Go online, and search YouTube, LinkedIn and Google for blog posts, videos, tutorials and other resources in your area of interest. How did they land their first client? What tools did they use to build their website or set up an e-commerce store? How did they figure out a pricing model? What were their early mistakes or lessons learned? 

3. Begin with the end in mind. 

Be clear about the purpose of your side hustle. Is it a temporary project to earn a bit of money on the side, or is it a proper and permanent business? If you want to build a long-lasting business, focus on that goal from the beginning, and envision a successful outcome. What would a thriving business look like? What are your markers of success? What kind of support do you need to reach your objectives? Be as specific as possible. 

Decide what your biggest business priority is right now, such as registering as a sole proprietor, marketing your services, designing your website or signing your first paying client. Map out three small, concrete actions you can take in the next week to move forward on this priority. 

4. Get support from like-minded people.

I think one of the biggest side hustle mistakes people make is trying to figure everything out on their own, which often leads to loneliness, frustration and burnout. Don’t fall into this trap; you will benefit enormously by network with other business owners who are on similar journeys. Find out where they spend time online, and join a business group that aligns with your interests. Look for ways you can contribute to the group right away — answering questions, providing referrals or offering free advice — and ask other participants for help on the problems you’re dealing with. You’ll have an opportunity to gather valuable information and meet like-minded people, and you may even connect with new collaborators or clients.  

It’s not clear how long the recession will last or how profound its repercussions will be. You can do nothing and hope for future job security, or you can take control of your situation and finally get your side hustle off the ground. You have nothing to lose and everything to gain. 


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